Primary Menu

Monthly Archives: November 2014

For many retailers, Black Friday sparks the beginning of their busiest period of business: Holiday shopping. Especially this year–when Black Friday sales were already underway as early as November 1. It’s just the tip of the iceberg. Forbesreports that post-recession savvy shoppers have changed the rules of the holiday shopping game. So how can you make the most of this potentially very lucrative time of year?

• Know your window of opportunity. Did you know that you get almost a month–28 days, to be exact–to make the most of your holiday shoppers?

• Mobile payments are the key. Most of your shoppers might use cash or plastic, but one way to help speed up long check-out lines? Mobile payments.*

Share and Enjoy

Black Friday is a magical time of year when enterprising bargain hunters duck out of their Thanksgiving dinners early and line up at major retailers to score deep discounts on typically big-ticket items.

You could argue that accepting ApplePay could only speed up sluggish check-out lanes. Which is why with many major retailers–at least those which are part of the MCX–rejecting ApplePay this holiday season could cost them. And we want to hear from you.

Do you think rejecting Apple Pay will cost retailers like Wal-Mart this Black Friday?

Share and Enjoy

Remember that one time we spoke to the media about tokenization to help provide a guard against compromised customer data? We know that for most business owners, this kind of technology might seem like an unnecessary extravagance, but in this age of daily data breaches, it’s the kind of tech investment that can go a long way towards protecting your business interests.

When looking for a payment processing provider, remember that not all costs may be financial. As QuickBooks points out, if you pay a super-low price but don’t get reliable help and services, it isn’t worth it.

Often merchants must pass on expensive swipe fees to their customers in the form of prices. Research this before setting prices.

5. Don’t Forget About Chargebacks

According to the Wall Street Journal, chargebacks happen when consumers disputes charges, but also when the service provider fails to input proper authorization codes. Talk to merchant solutions providers about how they deal with chargebacks.

In 2015, credit cards will be replaced with new chip-and-PIN technology, which requires each customer to enter their PIN.

8. Remember to Batch

Merchants send requests for payment in batches. Do so every 24 hours, or risk higher fees.

9. Customer Service Should Be Free

Avoid providers that charge a fee to talk; this should be an included service, says QuickBooks. And as you know, Abtek’s team is filled with in-house credit card nerds who are passionate about what they do–and about getting you answers. This is critical because your payments processor is one of your business’ key lifelines.

10. Keep An Eye Out For Extras

Features like virtual terminals, for example, make payment easy and cut down equipment. Check out extras before you decide.

Remember to keep these facts in mind from the beginning and you’ll have an easier time in the long run.